SA Property Rentals – Tenant management, the rental market and the rental boom
The South African Rental Boom
With the slow down in the South African property market, many potential property buyers have decided to take a back seat, rent instead of buy, and see where the market goes. This is causing greater demand for quality rental properties. The introduction of the National Credit Act has also upped the criteria for mortgage borrowing and many prospective purchasers are no longer eligible for mortgage finance and are having to rent instead of buy. The recent interest rate hikes have also contributed to the slow down in property sales. What a purchaser would have paid in bond instalments a year ago, has now gone up so considerably that the majority of buyers are finding interest repayments to be somewhat of a burden. Above all of this we are currently in a global credit crunch with a reluctant lending fraternity and access to finance considerably limited. All of the above reasons are now contributing to greater tenant demand.
Professional Property Management
Property Management can be very time consuming and many of our clients simply do not have the time to administer their property investments. Firstly one needs to advertise for tenants. Then one needs to field the calls and conduct the viewings. Once you find a tenant, you really should run an ITC credit check on the person as well as gathering references from the tenants employer and previous landlord. Once signed up on a rock solid lease agreement the work is still not over. One needs to ensure that the tenants pay their rents timeously and that maintenance costs are kept to a minimum.
What does Portfolio Property Investments offer its clients?
Portfolio Property Investments offers clients the choice of either Full or Part Management of their rental properties.
- Part Management (Tenant placement only)
- Full Management (Tenant placement and rental collection)
For this we will advertise, conduct viewings and find you a tenant. We will also compile the tenancy agreement.
This includes the entire part management service as well as the collection of rent, which we will deposit into your account on a monthly basis. This service includes compiling a statement of earnings less any deductions such as maintenance, which we will mail to you each month.
Why use Portfolio Property Investments
- We will advise on current market rentals
- We will advertise for tenants
- We will conduct viewings with the prospective tenants
- We will screen your tenants
- We will conduct the ITC Credit Check
- We will verify the tenants employment
- We will get a reference for the previous landlord
- We will sign up the lease agreement
- We will inspect the premises with the tenant and hand over the keys
- We will collect rents on a monthly basis
- We will oversee repairs and maintenance if required
- We will pay over to the client the net proceeds on a monthly basis
- We will assist in the collection of arrear rentals
- We will renew lease agreements when they expire
- We will negotiate your rental increases
- We will send you a monthly statement of earnings
Taking the Pain out of Managing Tenants
Our proven property management system will not only simplify your life, but will also free up your time so that you can focus on your core business interests. We have the experience and systems in place to ensure the smooth management of your property investment.
Maximising your Rental Return
We will endeavour to ensure that your property does not have void periods. We will also endeavour to increase your rentals as and when the market related rates increase.
FOR FURTHER INFORMATION CONTACT
Bradley Hancock - Founding member of PPI
Tel: ++27 72 0196192